FT News Briefing Monday, October 7
Oct 7, 2019
HSBC announces substantial job cuts, threatening up to 10,000 positions. Political drama unfolds as Joe Biden accuses Trump of spreading falsehoods. A leaked paper suggests a post-Brexit trade deal with the US could limit the UK's future negotiations with the EU. Meanwhile, Novo Nordisk navigates the fine line between rising insulin prices and its commitment to social responsibility, balancing profit with ethical obligations. The company's initiatives to support the diabetic community reveal a deeper discussion on corporate ethics.
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HSBC Job Cuts
- HSBC aims to cut up to 10,000 jobs amidst a, quote, complex global environment.
- The bank faces challenges from low interest rates, trade conflicts, Brexit, and Hong Kong protests.
Biden vs. Trump
- Joe Biden accused Donald Trump of spreading, quote, flat-out lies, including conspiracy theories about Biden and his family.
- Trump's claims involve Biden's son, Hunter, and his dealings with Ukraine and China.
Post-Brexit Trade Deal Challenges
- A leaked UK government paper warns that a post-Brexit trade deal with the US could hinder a similar deal with the EU.
- The US demands access for goods like chlorine-washed chicken, which don't meet EU standards.